There is a decrease in demand of 1,000 units at each price and a decrease in supply
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There is a decrease in demand of 1,000 units at each price and a decrease in supply of 1,000 units at each price. In Figure 18, draw the new demand and supply curves and fi nd the new equilibrium price and quantity.
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Price ($) 500 400 300 200 100 Figure 18 1,000 2,000 3,000 Quantity 4,000 5,000
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